Move comes as consolidator gets ready to take on £5bn of DB scheme liabilities by 2025
Approval comes nearly 18 months after interim regime was launched
Majority of poll respondents doubt whether the system can get up and running
Wilton Re has made an investment in Clara Pensions to support the consolidator’s growth and development.
Superfunds could be on course to complete multi-billion-pound transfers of defined benefit (DB) funds by the end of this year, Isio says.
Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).
With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.
This week’s top stories included The Pension Regulator’s launch of interim guidance for the superfund market, while the regulator also extended Covid-19 easements and resumed some reporting requirements.
Defined benefit (DB) scheme consolidators The Pensions Superfund and Clara Pensions are both set to begin transacting as soon as possible after new guidance for their operations was issued by The Pensions Regulator (TPR).
Charlotte Moore looks at how the Covid-19 economic crisis will affect funding for schemes in differing amounts.